Consumers Energy Contributes $25,000 to Great Lakes Ag-Tech Business Incubator

A new statewide business incubator designed to spur agricultural innovation has received financial support from Consumers Energy.

Company representatives have presented a $25,000 contribution to officials with the Great Lakes Ag-Tech Business Incubator at the Ottawa County administrative offices. The contribution will support new business development centered on commercializing ag-technology ideas and inventions.

The incubator, a nonprofit corporation, specializes in helping farmers and agriculture-related entrepreneurs turn their machine, equipment or software ideas and inventions into profit-generating assets or new businesses. Originally started by the Ottawa County Board of Commissioners, the incubator is now attracting interest and investors across Michigan.

The incubator’s services are geared toward farmers and entrepreneurs who have ideas or inventions that improve farming operations or solve farming-related problems. Depending on whether the client wants to sell or license their invention, or whether they want to start a new business, the incubator will work one on one with each client to move their concept forward rapidly.

There is no fee for farmers or entrepreneurs to use the incubator’s services if they are selected to be a client. Instead, the incubator shares in a small part of the successful business’ sales.

Unlike typical incubators, the Great Lakes Ag-Tech Business Incubator does not provide physical building space for its clients. This “garage incubator” model invests almost all resources in staff who help commercialize ag-technology and propel clients through business hurdles. When facilities are needed for clients, the incubator brokers space (office, loading dock, warehouse) on a piecemeal basis from existing landlords in the community.

Consumers Energy, Michigan’s largest utility, is the principal subsidiary of CMS Energy (NYSE: CMS), providing natural gas and electricity to 6.6 million of the state’s 10 million residents in all 68 Lower Peninsula counties.